tax questions - contents insurance?

[keelybooboo]

Hi - have been told that working 40 + hrs a week i can put down a percentage of the cost of my contents insurance, tv licence, sky subscription, internet fees.

what does everybody else put down? 50 % or 25%?

thanks

I may be wrong but I think that the only way you can claim against expenses for sky, tv licence, internet etc is if you can prove that you use it exclusively for cm purposes. If you're an NCMA member then check you handbook, it gives lots of info about what you can and can't claim for - along with percentages. I don't think you can claim for insurance as you should be deducting 10 per cent from your gross earnings for 'wear and tear' when you do your annual accounts.

Source: HMRC: Childminders Expenses

40+ hours:

33% of Heating and lighting costs
10% of Water rates and Council tax Rent
A deduction of 10% of total childminding income may be made to cover the wear and tear of furniture and household items. A childminder claiming this deduction may not however claim relief for the cost of replacing such household items.

Also allowable - the cost of toys, outings, books, safety equipment, stationary, travel fares, the NCMA subscription, public liability insurance premiums and the actual cost of telephone use for childminding purposes.

I feel you can add anything that is Exclusively for use by the business.

If you use an accountant like Brian then he will be able to advise on other things that you may be able to put through, as he has been doing the accounts long enough to know what is reasonable.